Things at the House of Harvey haven't been going well, and now it's reported that they've brought in a financing firm to restructure their debt, and figure out how to cover the boat's holes before it fills with water.
The Wall Street Journal and LA Times confirmed a story Nikki Finke had hints of earlier this week: that The Weinstein Company has brought on financial advising firm Miller Buckfire & Co to play with their cash and figure out how to cover the holes in their reportedly massive debt while covering costs to keep the shop open. Notes a Finke source:
"You don't hire Miller Buckfire to raise money. You hire Miller Buckfire because they are one of top restructuring experts in the country. They currently represent several top institutions going through bankruptcy."
And who are some of those institutions? Well, the recently tanked GM, for one. The cash-crunched Readers Digest, too. And Magna Entertainment, a bankrupt company who holds a bunch of horce-racing tracks and investments in the sport. Which, interestingly enough, was founded by an auto-parts guy. Sure, the company's flack issued some ridiculous denial about "always working with financial institutions," but this one's a no-brainer: they're hurting.
Finke notes that she's also since heard that Harvey - probably with the intention of increasing commercial potential - managed to pressure Quentin Tarantino into cutting down his upcoming WWII Nazi-killing epic, Inglorious Basterds, down from its current three-hour run time. Weinstein's always been pretty hands off with Tarantino, so this comes as a slight surprise, but not really, because the film received a pretty mixed reception at Cannes: not what they wanted or needed.
At least they're still hiring assistants. A recent job posting from the once coveted, semi-secretive (now: ubiquitous) UTA job list notes that someone over there - maybe the Harv, by the job description - needs a new minion to harass:
Seeking executive assistant in NYC. Ideal candidate must have excellent communication skills, and superb gate-keeping skills. Must be available on nights, weekends, expect to spend long hours in the office, be able to travel on a moments notice and stay away for uncertain amounts of time. Must have expansive knowledge of film, the industry and minimum 2-3 years experience assisting another top-level executive. Send cover letter, resume, and list of references to: email@example.com
"Stay away for uncertain amounts of time," eh? Sound ominous. The Harv's supposedly curbed his eating and smoking problems, but a new "fuckface" to digest and regurgitate in a period of unmitigated rage is probably an well-portioned expense the company will - thankfully, but maybe fatefully - never write off.
The Weinstein Company To Restructure [Deadline Hollywood Daily]
Weinstein Co. Hires Firm to Explore Restructuring [Wall Street Journal]
Weinstein Co. hires consulting firm to restructure its debt and raise funds [LA Times]